Micro-credit training for BOV management

Bank of Valletta is currently undergoing an internal capacity-building exercise to further develop its internal resources in providing access to finance for start-up operations and micro enterprises.

This capacity building is being provided through the framework of the JASMINE initiative (Joint Action to Support Microfinance Institutions), launched in 2008. JASMINE is a European Commission initiative dedicated to providing technical assistance to EU financial institutions and microfinance organisations.

Under the JASMINE initiative, a team of credit and risk specialists from Bank of Valletta recently attended a workshop run by Dean Caire. Mr Caire has extensive experience in credit methodologies with a number of international banks in Central Eastern Europe and has published a number of specialised research papers in this field. The workshop was an interactive discussion on how to effectively build, test and implement micro-financing methodologies.

Chief Officer Credit Albert Frendo said: “The advanced staff training in the area of micro-credit methodologies being made available under the JASMINE initiative seeks to complement the bank’s brand promise to further strengthen the customer experience.

“By offering professional value-added services, Bank of Valletta is determined to remain the prime mover in the development of Maltese SMEs, with a special focus being given to micro-enterprises. There are over 38,000 micro-enterprises today, employing around 49,000 people between them.”

JASMINE is financed by the European Commission (Directorate General for Regional Policy) and the European Investment Fund (EIF), which forms part of the European Investment Bank Group.